HAYWARD, Calif., May 1, 2014 /PRNewswire/ -- Impax Laboratories, Inc. (NASDAQ: IPXL) today reported adjusted net income of $16.5 million, or $0.24 per diluted share for the first quarter ended March 31, 2014, compared to adjusted net income of $25.3 million, or $0.37 per diluted share in the prior year period. On a GAAP basis, the Company recorded net income of $6.4 million, or $0.09 per diluted share for the first quarter 2014, compared to net income of $105.4 million, or $1.55 per diluted share in the prior year period.